Bapcor posts heavy first-half loss and launches $200m equity raising to shore up balance sheet

Bapcor Ltd ( (AU:BAP) ) has shared an announcement.

Bapcor reported a statutory loss of $104.8 million for the half year to 31 December 2025, driven largely by $110.3 million in post-tax significant items including major non-cash impairments in its New Zealand operations amid deteriorating macro conditions and increased competition. Underlying revenue slipped 2.3% to $973 million and underlying NPAT fell sharply to $5.5 million, while leverage rose to 3.39 times EBITDA, prompting the suspension of the interim dividend and highlighting rising balance sheet pressure.

The company announced a fully underwritten $200 million equity raising to improve financial flexibility and resilience, supported by lenders who have agreed to covenant amendments and confirmed ongoing backing. Management, under new CEO Chris Wilesmith, is focusing on lifting performance through network optimisation, process simplification, customer feedback initiatives and rebuilding capability in retail and trade, as early signs of sales momentum emerge in Networks, Retail and New Zealand, suggesting a medium-term turnaround effort for stakeholders.

The most recent analyst rating on (AU:BAP) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Bapcor Ltd stock, see the AU:BAP Stock Forecast page.

More about Bapcor Ltd

Bapcor Ltd is a leading Australia and New Zealand provider of aftermarket vehicle parts, accessories, equipment, services and solutions. The company operates across trade, retail and wholesale networks, focusing on supplying automotive products to professional workshops, retail customers and industry partners in an essential transport sector.

Average Trading Volume: 2,566,786

Technical Sentiment Signal: Sell

Current Market Cap: A$582.1M

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